California

Sunset Development Opens 300,000 SF Shopping Center in San Ramon, California

by Amy Works November 9, 2018

SAN RAMON, CALIF. — Sunset Development Co. has opened City Center Bishop Ranch, a shopping, dining, entertainment and community development located in San Ramon’s Bishop Ranch area. Designed by Renzo Piano Building Workshop and BAR Architects, the 300,000-square-foot regional shopping center will feature 70 stores and restaurants at full occupancy. THE LOT, a 10-screen cinema and dining destination, and Equinox San Ramon, a whole-body personal fitness, training and yoga center, anchor the property. The second location of The Slanted Door, a Vietnamese-inspired eatery, occupies a freestanding, all-glass structure at the center. Currently open tenants include AlysGrace, Boba Guys, Candle Delirium, Fieldwork Brewing Co., M by Maggie Rizer, NEEKO, On the EDGE, Pottery Barn, Starbucks Coffee, West Elm and Williams-Sonoma. Stores slated to open in the coming months include Anthropologie, Athleta, Equinox San Ramon, Heller Jewelers, KIN THE LABEL and Monokrome. Signed restaurants include C CASA, Curry Up Now, Delarosa, Gio Gelati, Joe & The Juice, Mendocino Farms, MIXT, Ramen Hiroshi, Roam, SOCIAL-AFFAIR, THE LOT and The Slanted Door. Sunset Development Co. owns and operates the property.

November 9, 2018

Acquisitions California Retail Western

Phillips Edison Acquires 80,259 SF Value-Add Retail Center in Southern California

by Amy Works November 9, 2018

MURRIETA, CALIF. — Phillips Edison & Co. has purchased Sierra Vista Plaza, a value-add retail center located at 25030-25100 Hancock St. in Murrieta, for an undisclosed price. Stater Bros., CVS/pharmacy, Chuck E. Cheese, Valley Veterinary Clinic, The UPS Store, Pizza Hut and Jack in the Box are tenants at the 80,259-square-foot property. Bryan Ley, Gleb Lvovich, Justin Kundrak and Tony Ensbury of HFF represented the undisclosed seller in the deal.

November 9, 2018

Acquisitions California Retail Western

IREA Brokers $9.7M Sale of Retail Property in Northridge, California Leased to Petco

by Amy Works November 9, 2018

NORTHRIDGE, CALIF. — Investment Real Estate Associates (IREA) has negotiated the sale of a retail property located at 8800 Tampa Ave. in Northridge. A private individual acquired the property for $9.7 million as part of a 1031 exchange. Petco has occupied the 14,280-square-foot property, which is an outparcel to Costco and adjacent to In-N-Out Burger, since March 2004. Clark Everitt, William Everitt and Jonathan Krikorian of IREA represented the buyer in the deal. The name of the seller was not released.

November 9, 2018

Acquisitions California Industrial Western

Surfside Industries Sells Six-Building Industrial Property in Port Hueneme, California for $5.1M

by Amy Works November 9, 2018

PORT HUENEME, CALIF. — Surfside Industries LLC has completed the sale of a six-building industrial asset located at 250-278 S. Surfside Drive in Port Hueneme. James Mesa acquired the investment property for $5.1 million. Currently operated as a multi-tenant industrial and RV park, the property is M-1 zoned for manufacturing, processing and distribution use. Chris Roth and Rusty Williams of Lee & Associates Commercial Real Estate Services – North San Diego County, along with John Ochoa of Lee & Associates Ventura, represented the seller. Ventura, Calif.-based The Becker Group represented the buyer in the deal.

November 9, 2018

Acquisitions California Multifamily Western

Nahla Capital Divests 30 Apartment Buildings in San Francisco for $260M

by Amy Works November 8, 2018

SAN FRANCISCO — Nahla Capital has completed the sale of 30 rental apartment buildings in San Francisco. An undisclosed buyer acquired the assets for $260 million. Carl Schwartz, Matt Scoville, Michal Baum and Ida Phair of Hunton Andrews Kurth LLP advised Nahla Capital in the transaction.

November 8, 2018

California Development Industrial Western

Tejon Ranch Co., Majestic Realty Co. to Build 580,000 SF Spec Industrial Building in Tejon Ranch, California

by Amy Works November 8, 2018

TEJON RANCH, CALIF. — Tejon Ranch Co. has announced a third joint venture agreement with Majestic Realty Co. to develop a speculative industrial building at Tejon Ranch Commerce Center (TRCC) in Tejon Ranch. Situated on 34 acres with more than 2,000 feet of frontage along Interstate 5, the cross-docked distribution facility will feature 580,000 square feet of Class A space, 36-foot clear heights, an ESFR sprinkler system, 62 dock-high doors, 177 trailer parking stalls, 327 vehicle parking stalls and a 180-foot wide truck court. Construction is slated to begin later this year or early 2019, with delivery scheduled for third-quarter 2019. The new building will be located next to a 480,480-square-foot building, which Tejon and Majestic built in 2017 and leased to Dollar General and L’Oréal USA in 2018. The joint venture also owns a fully-leased 651,909-square-foot industrial building within TRCC on the west side of Interstate 5, adjacent to IKEA’s 1.8 million-square-foot distribution center. John DeGrinis of Colliers International will serve as the listing broker for the new facility.

November 8, 2018

Acquisitions California Multifamily Western

Olympus Property Buys 280-Unit Multifamily Property in Irvine, California

by Amy Works November 8, 2018

IRVINE, CALIF. — Olympus Property has purchased Fusion, a multifamily property located in Irvine, for an undisclosed price. The name of the seller was not released. Completed in 2018 and designed by Withee Malcolm, the property features 280 apartments with quartz countertops, stainless steel appliances, wood-style plank flooring, tile backsplashes, gourmet kitchens, full-size stackable washer/dryer sets, private patios/balconies, USB charging outlets and ceiling fans. Community amenities include a rooftop saltwater pool with an indoor/outdoor clubhouse, a spa, pool-side cabanas and a fitness center. Additionally, amenities include a Zen garden, koi pond, fire features, waterfalls, children’s play areas, skyline views, community kitchen with commercial grade appliances and temperature controlled wine refrigerator, outdoor seating and hammocks.

November 8, 2018

California Loans Retail Western

Meridian Capital Arranges $16M in Financing for Retail Center in El Segundo

by Amy Works November 8, 2018

EL SEGUNDO, CALIF. — Meridian Capital Group has arranged $16 million in financing to refinance The Hub – El Segundo, a retail property located at 600-630 N. Sepulveda Blvd. in El Segundo. Decron Properties is the borrower. Seth Grossman and Jackie Tran of Meridian Capital Group negotiated the seven-year loan, provided by a life insurance company, that features an extended period of interest-only payments followed by a 30-year amortization schedule. In-N-Out Burger, El Pollo Loco, Anytime Fitness and FedEx are tenants at the 37,000-square-foot property, which was built in 1990 and renovated in 2016.

November 8, 2018

Acquisitions California Industrial Office Western

Parallel Capital Partners Sells 12-Building Office/Lab Portfolio in San Diego for $112M

by Amy Works November 7, 2018

SAN DIEGO — San Diego-based Parallel Capital Partners has completed the disposition of a 12-building office and lab portfolio, known as the Inspire Portfolio. Boston-based Longfellow Real Estate Partners acquired the asset for $112 million. Situated in the Sorrento Valley area of San Diego, the 318,969-square-foot portfolio was 95 percent occupied at the time of sale. The tenant roster includes 81 life science, technology, and research and development tenants. The properties are: 11535-11585 Sorrento Valley Road (127,991 square feet) 11772 Sorrento Valley Road (19,193 square feet) 11760 Sorrento Valley Road (35,731 square feet) 11750 Sorrento Valley Road (19,921 square feet) 11558-11588 Sorrento Valley Road (85,121 square feet) 11494 Sorrento Valley Road (31,012 square feet) Longfellow Real Estate Partners plans to continue the life science conversion plan started by the seller, adding value by repositioning the remaining 50 percent of the portfolio. Nick Frasco, Nick Psyllos and Michael Leggett of HFF represented the seller in the deal.

November 7, 2018

California Loans Multifamily Western

Meridian Capital Arranges $16.5M in Financing for 83-Unit Kingsley Drive Apartments in Los Angeles

by Amy Works November 7, 2018

LOS ANGELES — Meridian Capital Group has secured a $16.5 million refinancing for Kingsley Drive Apartments, a multifamily property in Los Angeles. Decron Properties is the borrower. Seth Grossman and Jackie Tran of Meridian arranged the seven-year loan featuring full-term interest-only payments. A life insurance company provided the capital. Located at 737 S. Kingsley Drive in Los Angeles’ Koreatown neighborhood, the five-story complex consists of 83 one- and two-bedroom apartments. Originally built in 1988, a portion of the apartments were renovated in 2016 and 2017 and feature quartz countertops, stainless steel appliances, wine coolers, tile flooring and updated fixtures. Community amenities include a pool, spa, fitness center, putting green and driving range.

November 7, 2018

Newer Posts

Older Posts